Strategy buys 3,015 BTC for $204M as holdings climb past 720K

Strategy Inc has purchased 3,015 Bitcoin for about $204 million, lifting its total holdings to 720,737 BTC despite ongoing market weakness.

Strategy has added more Bitcoin (BTC) to its balance sheet after spending over $200 million on a fresh purchase, continuing its long-running effort to build one of the largest corporate crypto treasuries in the world.

On March 2, Strategy Inc revealed in a regulatory filing that it bought 3,015 BTC between February 23 and March 1 at an average price of $67,700 per coin, taking total holdings to 720,737 BTC.

Funding the latest Bitcoin purchase

The company spent about $204.1 million on the acquisition, using mainly proceeds from its at-the-market share sales and preferred stock offerings. During the same period, Strategy raised roughly $237.1 million, leaving part of the funds as a cash reserve.

With this purchase, Strategy’s total Bitcoin acquisition cost has reached around $54.77 billion. Its average cost basis now stands at about $75,985 per BTC.

At current market prices, the company’s Bitcoin holdings are valued at roughly $47 billion to $47.5 billion. This places Strategy at an estimated unrealized loss of between $7 billion and $9 billion, depending on price movements.

Strategy’s Class A shares trade on the Nasdaq Global Select Market under the ticker MSTR. The stock is down about 50% over the past year and 18% year-to-date, tracking Bitcoin’s recent decline.

The latest deal marks the company’s tenth straight weekly Bitcoin purchase. Its approach remains focused on raising capital and converting it directly into BTC to increase per-share exposure.

Financial pressure and long-term strategy

While Strategy continues to buy, the weak market has weighed on its financial results. Since early 2025, the company has used fair-value accounting for digital assets, which requires marking Bitcoin holdings to market.

In the fourth quarter of 2025, Strategy reported a $12.4 billion net loss, driven largely by unrealized crypto losses. Its core software business remains small, making overall performance closely tied to Bitcoin prices.

To limit dilution from issuing new common shares, the company has relied more on preferred stock. In February, it raised the dividend rate on its Variable Rate Series A preferred shares to 11.50%.

Executive chairman Michael Saylor has continued to support the company’s long-term holding strategy, arguing that Bitcoin should be treated as a primary reserve asset.

Analysts remain divided. Supporters say buying during downturns could pay off if prices recover above the company’s cost basis. Critics warn that extended weakness could deepen losses and strain investor confidence.